An energy grid management platform for the renewables era has raised $7.5 million in a Series A with Australian cricket captain Pat Cummins among its investors.
The round for software platform Gridsight was led by Airtree Ventures, with support from Austin-based Energy Transition Ventures, Singapore-based Aera VC, and the fast bowling superstar.
The startup, which has nearly 40 staff in Wollongong, Sydney, Canberra and the US, already works with 50% of Australia’s grid operators, analysing data from 4.2 gigawatts of distributed energy resources to planning and utilise existing grid infrastructure while optimising renewable technologies.
The funds will be used to scale the platform, accelerate product development, and expand partnerships to meet domestic and global demand.
Gridsight cofounder and CEO Dr Brendan Banfield said there’s increasing demand from grid operators for cutting-edge technology to manage the grid more effectively.
“Electricity networks were not traditionally designed to support millions of decentralised energy technologies. Gridsight was founded to create intelligent data-driven software solutions that help utilities successfully navigate the energy transition,” he said.
“We’re excited to continue building the platform utilities need to accelerate the shift to a flexible, decentralised and decarbonised grid, delivering lasting benefits for energy consumers in Australia and across the world.”
The startup recently switched on its AI-powered flexibility program with Endeavour Energy so households can double the amount of rooftop solar power they can export back into the grid
It’s part of a renewed five-year partnership agreement with Endeavour and CEOÂ Guy Chalkley said Gridsight has already proven to be an invaluable strategic partner.
“Their world-class capabilities are helping transform our business and the electricity services we provide millions of Australians,” he said.
“We’re proud to be working together to accelerate our energy transition and know Gridsight will continue to drive positive change across our broader industry too.”
Airtree partner James Cameron said decarbonisation and renewables-led industry electrification is one of the greatest challenges the world faces.
“Unfortunately the electricity grid itself is already bottlenecking our progress. The grid is incredibly complicated, and it desperately needs to evolve with our changing energy demands if we have any hope of transitioning to a low carbon economy,” he said.
“Gridsight has emerged as the leading global platform using AI to model the grid in real-time to help energy companies navigate the enormous new demands on the grid – from new solar installations to EV charges to AI data centres.”
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